Even in the bear market with an 80% correction since the start of 2018, two major cryptocurrency exchanges, Binance, and Coinbase, are on a run to hire more employees, and talents.

The CFO of Binance, Wei Zhou, said that the company is looking to hire 50 new employees in Malta. They are also hiring new people for Binance’s first fiat-to-cryptocurrency exchange in Singapore.

Binance, the Malta-based cryptocurrency exchange, has over 300 people across 39 countries. The company is expected to grow to over 350 people soon.

Binance is growing fast

Binance has grown a lot over the last year. The exchange gained a couple of million new users and their trading volume went up to billions. Binance is often said to be the fastest growing cryptocurrency or finance startup in the history.

Zhou says that he expects Binance to grow even more and develop the cryptocurrency ecosystem. His latest initiative was the launch of Binance in Singapore.

“Our goal right now is to continue to grow the ecosystem, not just for cryptocurrency, but for the blockchain industry as well. The company is currently looking to acquire projects in the fiat space,”

Binance is handling billions of dollars in funds. This requires extensive experience and talent in security team. Also, the exchange is working hard to integrate cryptocurrencies that qualify to be listed.

Binance has recently decreased the acceptance rate of new cryptocurrency tokens to 2-3%. As CCN states, the chances to get a token listed on Binance are slimmer than getting into Harvard or Stanford for millenials.

Zhou said:

“I think it’s harder to get into Binance than it is to get to Harvard and Stanford. It’s like less than 2 to 3 percent acceptance rate in terms of tokens we’re looking at.”

The process of accepting tokens on Binance is done manually. This requires people who are experienced in the cryptocurrency field and who are able to objectively evaluate projects based on specific criteria. Binance is responsible for securing user funds and adding trustworthy tokens to the exchange, as a result, this requires a lot of qualified people.

Binance’s vision is to evolve and improve its infrastructure. They have already managed to operate without hacking attacks or security breaches to date. In contrast, other large cryptocurrency exchanges like Coincheck, and Bithumb have suffered from rather harsh hacking attacks.

High Profile Employees

On the other hand, Coinbase hired a new Vice President of Data – Michael Li, senior executive and Head of Analytics and Data Science at LinkedIn.

Li said:

“I am thrilled by the opportunity to define and evolve the role data can play in a rapidly emerging space, combining an innovative mindset to solve new challenges with learnings from my past experience.”

According to CCN, a lot of executives and traders with experience are trying to get into the cryptocurrency field even if it means receiving a smaller paycheck. This shows that people want to be a part of the new and growing asset class and industry.

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